The fall drill program is underway at VR's Hecla-Kilmer - GlobeNewswire

VANCOUVER, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", oregon “VR”, is pleased to denote that drilling is underway astatine its Hecla-Kilmer (“H-K”) spot located successful bluish Ontario. Drilling volition absorption connected 2 of 3 areas of precocious people captious metallic mineralization discovered by VR wrong a ample hydrothermal breccia strategy hosted wrong the multiphase alkaline analyzable with carbonatite astatine Hecla-Kilmer.

• Four to 5 holes are planned for a full of astir 2,000 metres.
• The programme is expected to instrumentality 4 to 5 weeks to complete.
• Geochemical information are expected done year-end and into the archetypal 4th of 2023.
  

Drilling is again being done from our exploration campy established successful 2020 connected backstage onshore astatine Otter Rapids located conscionable 23 km southeast of the spot (photo successful Figure 1). The campy has “green” electrical service, situated astatine the terminus of Highway 634 which links the hydroelectric installation astatine Otter Rapids to the towns of Cochrane and Kapuskasing located connected the bluish Trans-Canada Highway 11 to the south. The Ontario Northern Railway besides passes done Otter Rapids to work the communities of Moose Factory and Moosonee located connected the tidewaters of James Bay immoderate 125 km to the northeast.

From VR’s CEO, Dr. Michael Gunning, “It is bully to person the campy up and moving and the drill turning again connected our captious metallic find astatine Hecla-Kilmer. The programme and attack astatine Hecla-Kilmer person advanced, from reconnaissance successful quality erstwhile our exploration began successful 2019, to advanced-stage delineation drilling successful this, our 4th program, which is targeting known, high-grade polymetallic mineralization intersected astatine oregon adjacent aboveground successful 3 abstracted areas spanning 2.5 km.

The magnetic representation successful Figure 1 shows the cardinal intersections of captious metals made to date, located successful the northwest quadrant, cardinal halfway and southbound rim of the multiphase intrusive analyzable astatine Hecla-Kilmer.

There are 2 circumstantial objectives of this autumn drill program:

1. Delineate and/or widen the high-grade mineralization successful Hole 13 (243 metre intersection of 1% Total Rare Earth Oxides “TREO”) both down plunge to the southeast and on onslaught to the southwest on respective controlling structures.
2. Track the high-grade mineralization successful Hole 15 connected the southbound rim of the analyzable on a controlling northeast-southwest operation evident connected determination and elaborate magnetic maps.
   

Additionally, clip and upwind permitting, we volition measure completing an archetypal trial spread connected the southeast structural bound of the circular magnetic anomaly astatine the Company’s caller Northway spot located conscionable 12 km to the northeast of Hecla-Kilmer (see Figure 3 successful NR22-09 dated July 27, 2022).

To beryllium clear, our drilling remains early-stage for a analyzable of the size of Hecla-Kilmer. That said, we person present intersected high-grade captious metallic mineralization that exceeds 1% TREO successful 11 of the 17 holes completed to date. Further, the caller 287 metre intersection successful Hole 13 highlights the imaginable for precise precocious in-situ values astatine Hecla-Kilmer owed to the unusually precocious proportionality of magnet REO’s, and the polymetallic quality of the REE mineralization, which includes yttrium and niobium. With that, we are excited to beryllium advancing to the signifier of delineating the measurement imaginable of the areas of high-grade mineralization discovered to date, and we look guardant to providing further updates arsenic this drilling programme is completed and our geochemical information get towards year-end.”

Background

Hecla-Kilmer (“H-K”) is simply a ample and multiphase alkaline intrusive analyzable with carbonatite. It is 4 – 6 km successful size, Proterozoic successful age, and was emplaced on the occidental borderline of the crustal-scale Kapuskasing structural portion which bisects the Archean Superior Craton successful bluish Ontario.

Ashland Oil and Elgin Petroleum did reconnaissance drilling astatine H-K successful 1970 arsenic portion of a determination basal metallic exploration program. A scant 854 m were completed successful 5 holes, each located connected magnetic highs successful the outer concentric zones of the complex. No geochemical sampling oregon information are reported. Selco Exploration Company completed 2 drill holes successful 1981 connected peripheral magnetic highs arsenic portion of a determination diamond exploration program. After this humanities drilling, a determination airborne magnetic survey was completed successful 1993 for ongoing diamond exploration successful the region, and it provided a caller and high-resolution of item for the full H-K complex.

The accidental for VR is to beryllium the archetypal institution to use modern IOCG and carbonatite mineral deposit models to research the multiphase H-K analyzable and hydrothermal breccia strategy arsenic a whole, and to usage caller exploration technologies not antecedently disposable erstwhile the historical drilling was done.

VR completed the archetypal airborne EM survey implicit H-K successful June, 2020, utilizing the state-of-the-art VTEM+ strategy of Geotech Ltd. Flown astatine 100 m enactment spacing implicit a 6 x 7 km survey artifact for a full of 450 line-km, the information supply a precocious solution of detail. The Company besides completed an independent, 3-D inversion of some magnetic and EM data, for improved modeling of the analyzable successful 3 dimensions. A detailed, ground-based gravity survey covering an country of 1.5 x 3.5 km was completed successful the wintertime play of 2021, with high-resolution information generated from 597 stations connected an equant grid spacing of 100 m.

VR completed 4 drill holes for a full of 1,971 m successful October, 2020, targeting the bluish MVI (magnetic inversion) anomaly astatine H-K. In October, 2021, the Company followed up that drilling with the completion of 5 further holes for a full of 2,604m, targeting the precocious contrast, 3.5 mGal gravity anomaly that is co-spatial with, but somewhat offset from the MVI magnetic anomaly. Fluorite-carbonate hydrothermal breccia with carbonatite vein breccia was discovered successful Holes 2 and 4. It comes to aboveground and hosted successful a precocious temperature, sulfide-bearing calc-potassic alteration strategy which wholly overprints archetypal alkaline and carbonatite big rocks, and contains wide and polymetallic intersections up to 299 m agelong of captious metals including some airy and dense uncommon world elements, yttrium, niobium, phosphorous and iron, with copper locally and elevated golden connected immoderate controlling structures.

A state-of-the-art, ultra- high-resolution drone magnetic survey completed implicit the northwestern portion of the H-K analyzable successful the autumn of 2021, and was expanded successful the wintertime play of 2022. The last survey is 3.4 x 4.5 km successful size, comprising 121 lines astatine some 25 and 50 m line-spacing for a full of 410 line-km. A 3rd drill programme was completed astatine Hecla-Kilmer successful May-June of 2022, to travel up connected the broad, polymetallic intersections of captious metals successful 2020 and 2021 by utilizing the analytic awesome (“AS”) magnetic anomalies derived from the caller drone airborne survey arsenic an denotation of higher concentrations of hydrothermal magnetite. A full of 2,751 metres were completed successful 8 drill holes ranging from 249 – 378 metres long. Key results include:

• Hole 13 intersected 243 metres @ 1.01% TREO, of which 20% are PMREO, within 287 metres @ 0.90% TREO, starting astatine surface and continuous to the bottommost of the hole, and including 65 metres astatine 1.66% TREO, starting astatine 155 metres, of which 21% are PMREO, and which includes 39 metres @ 2.01% TREO starting astatine 155 metres.
• Hole 15 located immoderate 2.5 km to the south, connected the southbound rim of the complex, intersected 25.5 metres @ 1.131% TREO with 18% arsenic Magnet REO*, wrong 55.2 metres @ 0.70% TREO starting little than 30 metres from bedrock surface.

VR has present intersected precocious people Critical Metal mineralization with > 1% TREO with a proportionality of PMREO from 18-21 % successful 11 of 17 drill holes. The mineralization is astatine oregon adjacent aboveground successful 3 antithetic areas 2.5 km apart. Drilling is inactive astatine a precise aboriginal signifier astatine H-K, yet the 17 holes completed to day show some the lateral and vertical standard of the hydrothermal breccia and alteration system, and the precocious worth quality of the polymetallic captious metallic mineralization.

Technical Information

Summary method and geological accusation for the Company’s assorted exploration properties is disposable astatine the Company’s website astatine www.vrr.ca.

VR submitted each drill halfway for GeologicAI XRF and SWIR scanning, and selected sawn drill halfway samples for geochemical assay to the ALS Global Ltd. (“ALS”) laboratory facilities successful Timmins, Ontario, with last geochemical analytical enactment done astatine the ALS laboratory located successful North Vancouver, BC., including lithium borate fusion, ICP-MS and ICP-AES analyses for basal metals, hint elements and full-suite REE analysis, and golden determination by atomic absorption connected occurrence assay. Analytical results are taxable to industry-standard and NI 43-101 compliant QAQC illustration procedures externally by the Company and internally astatine the laboratory arsenic described by ALS.

Technical accusation for this quality merchandise has been prepared successful accordance with the Canadian regulatory requirements acceptable retired successful National Instrument 43-101. Justin Daley, P.Geo., VP Exploration and a non-independent Qualified Person oversees and/or participates successful each aspects of the Company’s mineral exploration projects, and the contented of this quality merchandise has been reviewed connected behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.

About the Hecla-Kilmer Property

The Hecla-Kilmer analyzable is located 23 km northwest of the Ontario hydro-electric installation astatine Otter Rapids, the Ontario Northland Railway, and the bluish terminus of Highway 634 which links the portion to the towns of Cochrane and Kapuskasing to the south, itself located connected the bluish Trans-Canada Highway.

The H-K spot is large. It consists of 224 mineral claims successful 1 contiguous artifact astir 6 x 7 km successful size and covering 4,617 hectares. The spot is owned 100% by VR. There are nary underlying, yearly lease payments connected the property, nor are determination immoderate associated task oregon back-in interests.

Hecla-Kilmer is located connected provincial crown land, with mineral rights administered by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry (“MNDM”). There are nary yearly payments, but the MNDM requires definite yearly exploration expenditures and reporting. The spot falls wrong the accepted territories of the Moose Cree and Taykwa Tagamou First Nations.

About VR Resources

VR is an established inferior exploration institution focused connected greenfields opportunities successful copper, golden and captious metals (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of progressive exploration successful Nevada by a Vancouver-based backstage company. The instauration of VR is the divers acquisition and proven way grounds of its Board successful early-stage exploration, find and M&A. The Company focuses connected underexplored, large-footprint mineral systems successful the occidental United States and Canada, and is well-financed for its exploration strategies and firm obligations. VR owns its properties outright and evaluates caller opportunities connected an ongoing basis, whether by staking oregon acquisition.

The Company continues its mean people of concern successful 2022 wrong the model of modified exploration programs successful effect to the COVID-19 pandemic, with the extremity of ensuring the wellness and information of unit and task personnel.

ON BEHALF OF THE BOARD OF DIRECTORS:

“Michael H. Gunning”
____________________________

Dr. Michael H. Gunning, PhD, PGeo
President & CEO

Forward Looking Statements

This property merchandise contains forward-looking statements. Forward-looking statements are typically identified by words specified as: believe, expect, anticipate, intend, estimate, postulate and akin expressions oregon those which, by their nature, notation to aboriginal events. Forward looking statements successful this merchandise see those related to the companies upcoming plans, specified as “The programme is expected to take

four to 5 weeks to complete”, and “VR evaluates caller opportunities connected an ongoing basis, whether by staking oregon acquisition.”

This quality merchandise contains statements and/or accusation with respect to mineral properties and/or deposits which are adjacent to and/or perchance akin to the Company’s mineral properties, but which the Company has nary involvement successful nor rights to explore. Readers are cautioned that mineral deposits connected akin properties are not needfully indicative of mineral deposits connected the Company’s properties.

Although the Company believes that the usage of specified statements is reasonable, determination tin beryllium nary assurance that specified statements volition beryllium to beryllium accurate, and existent results and aboriginal events could disagree materially from those anticipated successful specified statements. The Company cautions investors that immoderate forward-looking statements by the Company are not guarantees of aboriginal performance, and that existent results whitethorn disagree materially from those successful forward-looking statements. Trading successful the securities of the Company should beryllium considered highly speculative. All of the Company’s nationalist disclosure filings whitethorn beryllium accessed via www.sedar.com and readers are urged to reappraisal these materials.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that word is defined successful Policies of the TSX Venture Exchange) accepts work for the adequacy oregon accuracy of this release.

Figure 1. The drill halfway logging installation and campy person been re-established astatine Otter Rapids successful Northern Ontario for the autumn 2022 drill programme astatine Hecla-Kilmer. Behind the treeline is the 182 MW hydroelectric dam and the Ontario Northern Railway which connects Moose Factory and Moosonee connected James Bay to the northbound with the Canadian National enactment successful Cochrane to the south.

Figure 2. Key captious metallic intersections from the archetypal 17 drill holes completed astatine Hecla-Kilmer, plotted connected a contoured RTP magnetic basal representation with superimposed 3D isoshells from the MVI inversion. The 4th drill programme present underway successful October, 2022, volition absorption connected 2 of the 3 areas with precocious people TREO mineralization: 1. Hole 15 country successful the northwestern portion of the multiphase complex, and; 2. Hole 15 country located immoderate 2.5 km to the southbound successful the southbound rim of the complex.

Photos accompanying this announcement are disposable at

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